Melting scrap prices decline by up to INR 500/t ($7) in western India

Melting scrap prices in India varied from region to region as per SteelMint assessment. In western region, it moved down by INR 100-500/t while in the northern and southern region, it remained supportive amid supply tightness and with sellers holding their offers on expectation of further improvement in prices, sources said. Trade participants expect price level to remain supportive for the near term particularly in south region.